ULMS Electronic Module Catalogue
The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module.
Title MICROECONOMICS FOR BUSINESS ECONOMICS
Code ECON227
Coordinator Dr CW Bach
Economics
C.W.Bach@liverpool.ac.uk
Year CATS Level Semester CATS Value
Session 2023-24 Level 5 FHEQ First Semester 15

Pre-requisites before taking this module (other modules and/or general educational/academic requirements):
ECON111 MATHEMATICS FOR ECONOMICS AND BUSINESS; ECON121 PRINCIPLES OF MICROECONOMICS 

Modules for which this module is a pre-requisite:
 

Programme(s) (including Year of Study) to which this module is available on a required basis:
 

Programme(s) (including Year of Study) to which this module is available on an optional basis:
 

Teaching Schedule
  Lectures Seminars Tutorials Lab Practicals Fieldwork Placement Other TOTAL
Study Hours 22

 5

         27
Timetable (if known)              
Private Study 123
TOTAL HOURS 150

Assessment
EXAM Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
Assessment 2 : Written Unseen Examination Type: Written Exam Duration: 2 Hours Weighting: 70% Reassessment Opportunity: Yes Penalty for Late Submission: Standard UoL penalty applies A  2    70       
Assessment 1: open book online assessment Assessment Type: Written Exam Duration: 24 hours Weighting: 30 Reassessment Opportunity: Yes Penalty for Late Submission: Standard UoL penalty appl  24    30       
CONTINUOUS Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
             

Aims

Students should acquire the ability to reason about economic topics, and provide logical analysis of specific economic problems.
Students will acquire the ability to demonstrate economic analysis of topics which start from individual choices.
Students will acquire specific knowledge regarding economic theory which will be useful when taking further courses in economic theory.

Learning Outcomes

(LO1) Understand how to analyse individual consumption behaviour

(LO2) Understand the implications of profit maximization for firms.

(LO3) Combine the knowledge of consumption and production behaviour to provide a general equilibrium analysis of economic activities.

(S1) Problem solving skills

(S2) Communication skills

Teaching and Learning Strategies

Teaching Method: Lecture
Scheduled Directed Student Hours: 22
Attendance Recorded: No

Teaching Method: Seminar
Description: These will involve students answering questions and contributing to debates on the subjects being discussed.
Scheduled Directed Student Hours: 5
Attendance Recorded: Yes

Self-Directed Learning Hours: 123
Description: Self-Directed Learning will include developing academic writing skills as well as wider reading to support the module.

There are the following non-modular requirements:
ECON111 and ECON121

This module is a pre-requisite for the following modules:
ECON222
ECON306
ECON326
ECON330
ECON333
ECON335
ECON360
ECON362

Skills/Other Attributes Mapping

Skills / attributes: Problem solving skills
How this is developed: This is developed by answering tutorial questions and contributing to debates on subjects being discussed
Mode of assessment (if ap plicable): Examination and Mid-term test

Skills / attributes: Communication skills
How this is developed: This is developed by answering tutorial questions and contributing to debates on subjects being discussed
Mode of assessment (if applicable): Examination and Mid-term test

Syllabus
 

Consumer Theory
Production and Costs
General Equilibrium and Economics Welfare

Recommended Texts
Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module.